6DECEMBER - 2017HUMANERRORDriver safety issues put your company at risk. With SambaSafety's continuous monitoring solution, you can get a comprehensive view of your employees' driving behavior. Get informed with help from SambaSafety. Call 888-340-1884 or visit SambaSafety.com/CIOoutlookAvoid theDrivers areCIOReview's circulation is audited and certified by BPA International (Audit Pending). Copyright © 2017 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.DECEMBER - 15 - 2017Mailing AddressValleyMedia, Inc.44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510 230 0396, F:510-894-8405DECEMBER - 15 - 2017, Vol 03 Issue 08 Published by ValleyMedia, Inc. To subscribe to Insurance CIO OutlookVisit www.InsuranceCIOOutlook.com Managing EditorPamela MorganEditorial StaffSalesAaron Pierce Ava GarciaSandeepa MajumdarAlex D'SouzaJoshua ParkerSarah FernandesVisualizerStephen ThomasINSURTECH STARTUPS SPECIALAllen Jacksonallen@insuranceciooutlook.comEditorialPamela MorganManaging Editoreditor@Insuranceciooutlook.comAs the most dynamic facade in the fintech arena, insurance technology (insurtech) has triggered a watershed moment in the insurance industry. Swarming the insurance industry with out of the box mindset, insurtech startups are enabling companies to engage customers digitally and drive conversions through enhanced experience in every interaction. The grit of these startups to take risks and bring about groundbreaking innovation is drawing several large insurance companies and venture capitalists to invest heavily in them. The vast gamut of solutions built by these startups allows insurance companies to not only create and launch new products but also monitor their performance in real time. As agents of change, the robust startup ecosystem is focused on developing easy to use and attractive digital interface to sell policies via mobile devices. Also, with the ability of their solutions to transform risk mitigation into risk identification, these startups allow companies and brokers to stay ahead of the business challenges. The insurtech startup ecosystem is centered around disruptive technologies including cloud, big data, machine learning, Internet of Things (IoT), artificial intelligence (AI), mobile technologies, social network, and blockchain. Leveraging these technologies, the startups are making insurance more transparent, social, and cost-effective. Utilizing blockchain, in particular, the innovators are improving back-office processes and expediting business transactions. Through cloud technology, brokers have access to self-service tools for effective business process management. Further, with cutting-edge analytics, companies are maintaining compliance in their operating environments across the globe and offering personalized policies based on the individual customer's needs. Supported by a network of investors, mentors, and industry experts, insurtech startups are utilizing innovative technologies like this to respond quickly to market dynamics in a predictive fashion and improve underwriting and pricing efficiency that balances consumer benefits and business outcomes. Innovative ideas such as micro insurance and community-based insurance with simplified digital checkout capabilities are garnering wide attention with their cost-effective investment models that guarantee good benefits. In this edition of Insurance CIO Outlook, we bring to you startups that are transcending the barriers to deliver more significant advantage to the entire insurance ecosystem. Let us know your thoughts.Reimagining InsurancePamela Morgan*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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